v3.26.1
Stock-Based Awards (Tables)
6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Assumptions Used for Estimating the Fair Value of Stock Options Granted
The fair value of stock options granted to employees was estimated on the date of grant using the Black-Scholes option-pricing model with the following assumptions:
Three Months Ended
June 30,
Six Months Ended
June 30,
2026202520262025
Expected term of options (in years)
5.5 - 6.1
5.5 - 6.1
5.5 - 6.1
5.5 - 6.1
Expected stock price volatility
81.7% - 85.3%
87.6% - 88.7%
81.7% - 93.3%
87.6% - 89.9%
Risk-free interest rate
4.0%-4.4%
4.0% - 4.2%
3.8% - 4.4%
4.0% - 4.5%
Expected dividend yield
Schedule of Stock-Based Compensation Expense The following table sets forth the total stock-based compensation expense for all awards granted to employees and non-employees and the ESPP in the unaudited condensed consolidated statements of operations (in thousands):
Three Months Ended
June 30,
Six Months Ended
June 30,
2026202520262025
Research and development$5,493 $6,946 $11,515 $13,951 
Selling, general and administrative6,898 5,505 12,963 12,559 
Total stock-based compensation$12,391 $12,451 $24,478 $26,510